SALT LAKE CITY--(BUSINESS WIRE)--International Automated Systems, Inc. (Pink Sheets:IAUS) announced today that it intends to explore the viability of entering into a financial partnership with a well established company and/or entity having substantial financial resources available for large-scale utility deployment of its new breakthrough solar technology. IAUS has developed a new and unique solar technology that can be produced at a cost significantly lower than traditional solar power technologies today and the only solar technology that IAUS believes has the versatility and price point to replace oil. IAUS currently has solar power plant projects in the works at various stages of development.
While IAUS has already been approached and has begun discussions with various entities, the company wishes to expand its options by opening up the playing field to others who might be interested as well and currently welcomes solicitations both foreign and domestic. IAUS has worked tirelessly to remain autonomous over the past decade while prudently completing the development of its patented and patent pending technology. However, as the company has now been transitioning from the development stage of its product to deployment, IAUS believes it would be important to investigate how an alliance with a substantial financial partner might propel the company in its efforts to move forward.
Due to the many advantages of IAUS's remarkable breakthrough solar technology, the company believes it is favorably positioned for a strong financial partner. IAUS currently has the capability of manufacturing approximately 350MW of its solar panels per year with the ability to quickly expand. In comparison, it can cost as much as $700-$800 million to construct a photovoltaic (PV) solar manufacturing plant to match IAUS's current annual solar panel production capabilities.
“We have achieved the remarkable development of what we believe is a long awaited answer to replacing fossil fuels with renewable energy. Making an affordable and competitive renewable energy alternative for today's fossil fuel consumption offers amazing potential for our company. We hope and expect that our product will end up at the forefront of curbing the environmental contamination and resource depletion caused by fossil fuel addiction. At this juncture we believe that it is important to explore the possibility that IAUS might be able to make a more aggressive and rapid push into the utility-scale market with a strong financial partner. Based upon interest we have received thus far we are confident that we could complete a deal in the coming future,” said Neldon Johnson, President and CEO of IAUS.
IAUS – IAUS is a publicly traded company with offices in Utah. For more information, visit their website at: www.iaus.com.
Note: Statements contained in this release that are not strictly historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are made based upon information available to the company at the time, and the company assumes no obligation to update or revise such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, demand for the company's product both domestically and abroad, the company's ability to continue to develop its market, general economic conditions, and other factors that may be more fully described in the company's literature and periodic filings with the Securities and Exchange Commission.